Executive stock ownership guidelines and debtholder wealth

Executive stock ownership guidelines and debtholder wealth

We examine how the adoption of executive stock ownership guidelines affects debtholder wealth. We find that guideline adoption is associated with lower loan spreads, fewer collateral requirements, and fewer other restrictive covenants. The results are robust to using an instrumental variables approa...

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Bibliographic Details
Main Authors: Kang, Jun-Koo, Xu, Limin
Other Authors: Nanyang Business School
Format: Article
Language:English
Published: 2019
Subjects:
Stock Ownership Guideline
Debtholder Wealth
Business::Finance
Online Access:https://hdl.handle.net/10356/102484
http://hdl.handle.net/10220/49491
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Institution: Nanyang Technological University
Language: English

Internet

https://hdl.handle.net/10356/102484
http://hdl.handle.net/10220/49491

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